TON, The Telegram Cryptocurrency

Telegram is a messaging app that allows users to buy and sell cryptocurrencies without leaving the app. TON (Telegram Open Network) is a fully decentralized Layer 1 blockchain that is designed by Telegram to onboard billions of users. The Open Network is designed to be scalable, shardable, and attract billions of users. Every feature was designed with everyday users in mind. TON has drawn much attention and is still growing despite market volatility.

The network is built on a bridge system that allows for the connection of different networks, including Ethereum, BSC, and Orbit Bridge. The network’s native cryptocurrency, TON, is used to pay fees and to participate in governance. The network currently has 240 validators and 1.4 million addresses. The TON Foundation has received donations of TON from early miners of the tokens.

HOW THE NETWORK WORKS

TON is a blockchain ecosystem that is designed to support billions of concurrent users. It accomplishes this through blockchain sharding, which involves using multiple subnetworks or shards on the same blockchain to complete tasks efficiently. Each shard serves a specific purpose and helps to avoid large backlogs of unverified blocks. TON also uses a PoS network, and $TON is used to validate transactions and reward validators. Nominators earn rewards by lending tokens to validators. A…